Scuba Company Had Net Income on the Current Year's Income

question 75

Short Answer

Scuba Company had net income on the current year's income statement in the amount of $800,000,other expense in the amount of $400,000,and a gross profit ratio of 58%.What was the amount of net sales on the income statement?

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Definitions:

Natural Tendency

An inclination or predisposition towards a particular behavior or action that is innate or instinctual.

Role Ambiguity

The uncertainty and lack of clarity about expectations, responsibilities, and the scope of one's job.

Uncertainty

The state of being uncertain or not being sure about the future or about what is the right thing to do.

Family-Run Businesses

Enterprises that are owned, managed, and operated by multiple members of the same family.